Category Archives: News

This Happened Once Before…. in 2008!

According to a CNN Business article this morning, The New York Federal Reserve spent $53 billion to rescue the overnight lending market.  This happened once before… in 2008.  “It’s unprecedented, at least in the post-crisis era,” said Mark Cabana, rates strategist at Bank of America Merrill Lynch. On Tuesday morning the New York Federal Reserve… Read More »

More Trouble Brewing

Got a low credit score and can’t get a loan?  Don’t fret over it, just subscribe to a magazine. Sounds absurd doesn’t it?  According an article on MSN, banks are using other means to determine your credit worthiness. We all understand alternative credit, such as phone and power bills, but companies are now considering consumer… Read More »

The Passing of a Colleague

VaCAP is sadden to hear the passing of fellow appraiser, John Chinn on September 9th. He was a friend to many. Our thoughts and prayers are with his family. Read about John’s life here.    Please follow and like us:

No DTI CAPS- What could go wrong?

Well, the insanity continues. HousingWire is reporting that a coalition of  lenders and trade groups are calling on the CFPB to eliminate the debt to income cap on all Qualified Mortgages.   Yes, you read that right. lenders want to eliminate the debt to income cap to allow more loans to be originated. They claim by… Read More »

The Raging Fire is Out of Control!

Are the profits being reported by Fannie and Freddie being skewed because of price fixing?  In an article released on CNBC by Reuters, US District Judge Jed Rakoff ruled investors can pursue antitrust claims against banks for conspiring to fix prices of bonds from Fannie Mae and Freddie Mac.  According to the article, there are… Read More »

Trouble is Brewing

$15 USPAP Appraisal Reviews in 15 minutes?   A VaCAP member shared with us something they read in an appraiser group on Facebook this morning and expressed concern. We agree there is a reason to be concerned and want to alert our members to be cautious.  We do not know if the source of this… Read More »

Do You Hear the Rumble?

” Can you hear that? Do your hear the rumble? It’s a train going 80 mph toward a 25 mph curve”  There is an excellent article by Richard Hagar,SRA that hit everyone’s email this morning from Working RE Magazine. The title of the article is  Why “Bifurcation” Won’t Work. This is an excellent read and… Read More »

Dropping Like Flys….

VaCAP has learned another AMC is gone. This makes the second one in two days.  Appraisal Quick  out of Laguna Niguel, CA has filed for Chapter 7 Bankruptcy.  According to DPOR’s website, Appraisal Quick is not licensed to conduct business in Virginia. Unfortunately VaCAP has learned of several amcs operating here in Virginia without proper… Read More »

Another AMC Shuts Down

Rob Chrisman Reports Appraiser Connections Closes it Doors. “It is with great sadness that I must inform everyone that effective immediately Appraiser Connections is shutting down. All orders in the system will be complete, just no new orders. Retail loan officers will be given new user IDs for the new AMC that will be taking over and… Read More »

BREAKING: FDIC MEETING

VaCAP has just been made aware of a Sunshine Act Meeting that will take place on Tuesday August 20th. We have been told that the FDIC meeting on Tuesday will vote with no discussion to raise the residential de minimis. This is scheduled to happen despite the volumes of opposition and in the wake of… Read More »